Leeward Investments LLC MA Decreases Position in Regal Rexnord Co. (NYSE:RRX)

Leeward Investments LLC MA trimmed its stake in Regal Rexnord Co. (NYSE:RRX) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,956 shares of the company’s stock after selling 29,021 shares during the period. Regal Rexnord makes up approximately 1.6% of Leeward Investments LLC MA’s portfolio, making the stock its 4th biggest holding. Leeward Investments LLC MA owned approximately 0.32% of Regal Rexnord worth $34,993,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Regal Rexnord by 3.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock worth $591,000 after buying an additional 102 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Regal Rexnord by 5.1% in the first quarter. Commonwealth Equity Services LLC now owns 3,400 shares of the company’s stock worth $612,000 after buying an additional 166 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Regal Rexnord by 25.0% in the first quarter. BNP Paribas Financial Markets now owns 5,462 shares of the company’s stock worth $984,000 after buying an additional 1,091 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Regal Rexnord by 1,036.4% in the first quarter. Daiwa Securities Group Inc. now owns 10,773 shares of the company’s stock worth $1,940,000 after buying an additional 9,825 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in Regal Rexnord by 1.2% in the first quarter. Texas Permanent School Fund Corp now owns 58,025 shares of the company’s stock worth $10,450,000 after buying an additional 709 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $181.63 on Thursday. The stock has a fifty day moving average of $165.60 and a 200 day moving average of $156.37. Regal Rexnord Co. has a 52 week low of $100.00 and a 52 week high of $185.28. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 57.30, a PEG ratio of 1.80 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.53% and a net margin of 3.41%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, research analysts expect that Regal Rexnord Co. will post 9.48 earnings per share for the current year.

Regal Rexnord Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.77%. Regal Rexnord’s dividend payout ratio (DPR) is 44.16%.

Analysts Set New Price Targets

RRX has been the subject of several research reports. Citigroup assumed coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 target price for the company. Barclays increased their price objective on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. KeyCorp dropped their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Loop Capital reissued a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.00.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.